Fears grow as UK factories hit by worst supply chain shortages since mid-70s

Britain’s manufacturers are struggling with their worst supply shortages since the mid-1970s, as fears grow in the sector over the economic fallout from rising costs and a lack of key materials. Almost two-thirds of the businesses surveyed in the snapshot from the Confederation of British Industry (CBI) warned that shortages of components would hit […]

UK’s buy now, pay later credit industry to face regulation even though limited evidence of harm

Tighter regulation of the buy now, pay later credit industry is on the way, though the government has concluded there is “relatively limited evidence” of widespread consumer harm. The comment, in a new document from the Treasury, could indicate that legislation will be less tough than some have called for, and may explain why […]

Government borrowing falls in September giving hope for generous budget

The chancellor has built up considerable fiscal headroom before the budget next week as government borrowing came in lower than forecast during the first half of the year. Borrowing came in at £108.1 billion between April and September, according to the Office for National Statistics. This was £44 billion lower than the £152 billion […]

Post-Brexit New Zealand deal cheers drinkers but British farmers fear cheap meat imports

Ministers sealed what is only the second bespoke Brexit trade deal after agreeing terms with New Zealand that will allow cheaper wine imports but open British farmers up to competition. Under the terms of the agreement tariffs will be waived on a range of New Zealand imports, potentially reducing the price of Sauvignon Blanc […]

Barclays signals more branch closures are on the way as profits double

Barclays has warned it may move to accelerate its transformation programme in the UK before the year’s end while reporting record group profits for the first nine months of 2021. It revealed that “structural cost actions” were on the way in its branch-based UK arm as the sector continues to shrink high street sites […]

UK manufacturers plead for more government help to boost sector

Five of the UK’s leading manufacturing industries have issued a plea for more government financial support to boost capital investment in research and development as well as new factories and equipment with lower carbon emissions. Carmakers, aerospace, chemicals, pharmaceuticals and food and drinks manufacturers banded together on Wednesday to call for a long-term strategy […]

PayPal bid $45Billion for Pinterest in pollen to create new retail force

Pinterest was the centre of attention on Wall Street last night after reports that PayPal had offered to buy the popular social media platform for $45 billion. The giant payments group was said to have discussed a bid of about $70 per share for the image-sharing network, which would represent a 26 per cent […]

West Midlands mayor Andy Street gives nod for £2.5bn Coventry gigafactory

Andy Street, the West Midlands mayor, is backing a plan to close Coventry airport and turn the site into one of the world’s largest “gigafactories” making electric car batteries. At full production, the 60 gigawatt-hours facility would produce enough batteries to power 600,000 zero-emission cars a year. It also would go a long way […]